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November 14 .. right end in Glaxo Smith Kline coupon


Egyptian Stock Exchange said that the right to Glaxo Smith Kline coupon expires on 14 November, by 0.5 pounds per share.

The bourse said in a statement on Tuesday that the start Coupon Exchange will be on November 17, 2016 from Misr Clearing Depository.

General Assembly approved last month the distribution of about 41.76 million pounds, of which 5% of the paid-up capital.

Glasgow Smith Kline had achieved a net profit of 69.14 million pounds during 2015 amounted to taking into account the property rights.

The share price around 11.16 pounds, according to the last traded share on 4 October.

Central Bank of Egypt decided, interest rate 300 basis points to raise (3%), on Thursday, following the liberation of the pound's exchange rate.

Central and raise according to a statement on its website, the main operation rate by 300 basis points to 15.24%, and to increase credit and discount rate by 300 basis points to 15.25%.

The Central Bank of Egypt decided today, freeing the exchange rate, while the National Bank data showed that the purchase price amounted to 13.01 pounds and the selling price of 13.5 pounds.

The Egyptian central prove key interest rates, on 22 September, and then decided to keep the interest rates of the major operations of the bank at a level of 11.75%, and proved to the bank, according to an earlier statement, the lending rate for one night at 12.75%.

Core inflation on an annual basis and rose to 13.93% in September, compared to 13.25% in August, the former to him, according to an earlier statement of the bank.

Central said in a statement then, monthly core inflation rate was 1.39 percent in September 2016, compared to 0.61% in August 2016.

Egyptian National Bank data showed on Thursday, recording the dollar around 13.01 pounds for buying and about 13.5 pounds for sale.

And it decided to Central Bank of Egypt, on Thursday, freeing the exchange rate of the pound against the dollar, according to the mechanisms of supply and demand, according to a bank statement.

Egypt has two prices for the dollar both markets and the formal black, as opposed to giving the league a price mechanism for the exchange between the dollar and the central banks.

Egypt is facing a shortage of hard currency; as a result of decline in Suez Canal revenues, tourism, exports and remittances from Egyptians abroad.

Egypt succeeded in reaching an agreement with the International Monetary Fund on access to $ 12 billion over three years, as the government plans to issue dollar-denominated bonds worth about $ 3 to $ 5 billion.

He predicted Pharos Investment Bank, the central bank cut the value of the Egyptian pound against the dollar in November, to a level between 11 to 12 pounds.

The Director of the International Monetary Fund Christine Lagarde, have been reported in the past week, that Egypt is suffering from a crisis in the foreign exchange market, with the high price of the dollar in the black by more than 100% compared to the official rate in the banking market.

The report pointed out that the average price per pound in the futures delivery three months came to 11 pounds in September, before rising to the level of 12.05 pounds on 24 October.

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